Cainiao Smart Logistics Network, part of e-commerce giant Alibaba, isthe latest Chinese logistics player to expand into air cargo.Last Thursday, through 100%-owned subsidiary Zhejiang Cainiao Supply Chain Management Co, Cainiao paid $248m for a 20% stake in Air China Cargo, the air cargo arm of the Chinese state-controlled airline.Amid the well-publicised capacity and equipment crunch in container shipping, logistics businesses and shippers have been looking at alternatives like air and rail freight. So it is not surprising that this year, logistics players have been flexing their muscles in the air cargo field.In August, Alibaba rival JD.com became China’s first e-commerce company with its own airline, when subsidiary JD Logistics launched Jiangsu Jingdong Cargo Airlines, a joint-ven...